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Own Home Outright but want to move whats better
short_cake
Posts: 67 Forumite
My brother and his wife Own there own home outright worth Aprrox £275K and they want to move to an area to be nearer her family which is about 3.5 hrs drive from where they are now
Are they better off selling and then renting in the area they wish to move to - then finding and buying a house as a cash buyer , OR do they do the move all in one ie find House now , sell theres and then move - they do not want a mortgage at all , it would be a small downsize they want to spend up to £230K
any advice pls on what would be the best way to go about this TIA
Are they better off selling and then renting in the area they wish to move to - then finding and buying a house as a cash buyer , OR do they do the move all in one ie find House now , sell theres and then move - they do not want a mortgage at all , it would be a small downsize they want to spend up to £230K
any advice pls on what would be the best way to go about this TIA
0
Comments
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Are there any houses in the area they want to move to that they would be interested in? Do houses in the area they currently live usually sell quite quickly?
If they decide to rent for a while they will probably be tied in to a contract for at least six months - can they afford to cover rent and a mortgage for a while if their house doesn't sell?0 -
There house has no mortgage on it its theres all paid for so all they would be doing is. selling up , banking the cash , renting for approx 6mths (they can afford this) in there new area whilst proactivley trying to find a house they want from there rented house in same area rather than from there own house 3.5hrs away
they live in an area that houses do buy and sell fairly quickly so thats not a problem as such and they do know of the area they want to move too and are at this stage just looking on rightmove ect to get some idea of the best parts of it
the only reservation they have is if they cant find a house there stuck in rented ( i dont think they will be for long ) but when u have your own home i guess you do feel safer then in rented
and im guessing there hesitating due to this , thats why i thought i would ask what peoples thoughts on this were0
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